USD/CHF (a 4 hour chart)
The franc stabilized against the US dollar amid our expectations that the US economy is ahead of the European and Japan economy.
The US data publication showed that the initial jobless claims fell to 264K versus 287K the previous week.
The price is finding the first support at 0.9430, the next one is at 0.9370. The price is finding the first resistance at 0.9500, the next one is at 0.9560.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement and form a “Dead cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is correcting.
We advise to short with the first target - 0.9370. When the pair consolidates above the first target, we can open deals to the level of 0.9330.